Tuesday 20 March 2018

Google second quarter revenue, profit rise

Google HQ in Dublin 2
Google HQ in Dublin 2

GOOGLE has reported consolidated revenue of $14.1bn in the second quarter, compared to $11.8bn in the year ago period.

The world's No.1 Internet search engine said net income in the second quarter was $3.23bn, or $9.54 per share, compared to $2.8bn, or $8.42 per share in the year ago period.

But a downturn in the internet search leader's advertisement prices deepened.

The results show that Google is still having trouble navigating a technological transition driving more online activity on to smartphones and tablets. Those devices pose a challenge because their smaller screen sizes fetch lower ad rates than on personal computers.

Google's stock fell more than 5pc in extended trading.

Google's average advert rate fell by 6pc from the same time last year during the three months ending in June. It marks the seventh consecutive quarter of falling ad prices.

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